German-Ukrainian Fund to provide EUR 18mln of loans for SMEs

German-Ukrainian Fund declared plans to attract foreign credit lines under low interest rates in order to provide the facilities for banks which are crediting Small and Medium Enterprises (SMEs) in Ukraine, the press service of the local currency board has informed. The capitalization worth of the fund gives way for the fund to become a national instrument of attracting money from abroad, voiced Oleg Strynzha, the managing director of the fund. The fund can attract the credit lines of low interest rates to be channeled for the purposes of development of the SMEs via partner banks of the fund in Ukraine. The development program for financial sector of Ukraine encompasses restoring of loan programs for SME, as well as restructuring of loans. To remind, the German-Ukrainian Fund is managed by the National Bank of Ukraine (31.3%), the Ministry of Finance (31.8%), and German government-owned development bank KfW.